Abstract This study evaluates and quantifies the technical change in the Peruvian regulated microfinance sector during the period 2003–2015 estimating a translog cost function. We found technical deterioration between 2005 and 2015 due to the differentiated effects that the technical innovations, implemented by the MFIs, had on their production costs. In the analysis by groups of MFIs, all groups converged at a technical deterioration rate between 8.6 and 9.13% in the last year. Problems in the implementation, execution, and/or management of the new technologies as well as the difficulty in achieving reductions in the variable costs may explain these results.

中文翻译：

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秘鲁受管制的小额信贷部门的技术变革

摘要这项研究评估并量化了秘鲁受监管的小额信贷部门在2003年至2015年期间的技术变化，从而估算了对数成本函数。我们发现，由于小额信贷机构实施的技术创新对其生产成本产生了不同的影响，因此2005年至2015年之间技术水平有所下降。在按小额信贷机构分组进行的分析中，去年所有组的技术恶化率都在8.6％至9.13％之间。新技术的实施，执行和/或管理中的问题，以及难以实现可变成本降低的难题，都可以解释这些结果。